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Record Bullhorning Day

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Lock Limit Down provides today's blow by blow account.


Huge jam on the Naz and the spoos. Standing in front of this is suicide. Out and watching again. I will not play against these monsters!


Look at the what the BKX is telegraphing. I say again. The stakes are too high. They will wipe out all bulls and bears before any real decline. Stops are sooooooo important when you are playing against keystrokes in an election year.


Many shorts in the indexes being effectivly eliminated for good. It will catch up to these power crazed fools. No insurance for a future devastating decline.


The stakes are high and the market must approve of the present course of events

Can you relly see a serious decline in an election year when the polls are tied to the performance of the most watched index in the world. Impossible to play against these power crazed meglomaniacs.


GSEs launching. Look at FNM FRE SLM MBI MTG COF BKX HGX. Get out of the way

Cant believe the bid under the spoos. They want blood. Matrix is all over this thing. Risk is in huge demand. Alarming recklessness.


I'm becomining more convinced by the day that right is wrong and wrong is right

in our present time frame. Trillion dollar markets thrown about at will. Currencies bonds equities metals can be pushed in the direction willed by those with the money machine from hell.


The recent sacrifice of the bond has confused me to no end. As I said previously I think we were on the verge of a big derivatives accident and the statists rode to the rescue with the bogus government numbers choosing to rescue what could of been an impending disaster. It has had the desired effect but now they have another problem with the debt pyramid scheme. I'm sure it is within their power to patch things up there as well now the metals fire has been subdued. It will all be like putting a Band-Aid on a cancer patient but it will put off the inevitable which is all these monsters live for.


It just amazes me watching this machine in action. Metup in all indices from 1100 - 1122 pm and now the market settles into a calm lull flatlining while the retreat and regroup. How many days have we seen this kind of action on wire to wire days? I still think this isn't finished.


From L. Ron Shrubbard


Today's market action, in all markets, is so obviously choreographed, planned in advance in every detail. They manage a major intraday simultaneous paper jam / metal slam. And they've pulled it off without a corresponding tanking of the Bonar, and this apparently without BOJ giving Uncle Buck a massage. If you can, you really have to look past how disgusting and criminal it all is, and how much suffering by so many may be coming down the road, and take a few seconds and just admire it as an incredible work of art, albeit an evil one. It really is something to behold, how they pull all of this off. As Lock Limit Down says, just get the hell out of the way and watch it.


Did any of you notice there was no 3:00 a.m. jam last night? When was the last time they refrained from this dirty little trick? Like forever. This was obviously planned. I feel very sure the timing is primarily about making Greasepan look good. Many of you have commented how bad he has looked in the moment in person during this week's heavy criminal lecture circuit.


And Rog had this observation:


Futures been jammed all day. Looks like orchestrated stop sweeping. In this case the money flows into the stock market through arbitrage. They buy at market every stock in the index according to its weight in the index. the volume is directly proportional to the number of futures being bought to cover.


In the case of a stock like IBM it would probably be down $3 but given its weight in the spoos and dow it is barely up. That is alot of buying pressure and it barely able to remain green. same situation in the sox that is struggling to remain green while NDX futures are pegged +~2.5%


Problem is thjose of short IBM now have to deal with the bulls who may decide that the h&s breakdown is false and a key reversal has been put in.


Last couple of days I have been posting how several large players have been dumping large qtys of spoos by rotating through the white shoe brokers. What this means is that instead of calling GS with an onrder to unload 10k spoo. they were calling GS with an order to sell 500, then MER with an order for 500, then BSC, MWD, etc.


The net result is one fund unloads 10K spoo and the market is none the wiser. The white shoes on the otherhand have 10k long that they must dump before the market moves against them. They are in the business of facillitating trades not holding positions (at least on the sales side of the house). As the white shoes dump in concert the market melts.


Today looks like a coordinated effort by the white shoes to unload a great deal of inventory unloaded on them without taking a massive loss. When you have open view of all stops and positions its not hard to pull off.




Today had to be an all time record day for Matrix Bullhorning.


Various Fed Govenors out with their happy talk about "no inflation", and "high energy prices are no concern", and "currencies are under management", and "economy is recovering" and "jobs growth is imminent."


And then the Snowman is dragged out from the Treasury Department with similar Loudspeaker and Bullhorn music.


Since when have you seen so many Treasury officials and Fed Govenors walking around the Animal Planet amuzement park like Carnival Barkers with that Bullhorn getting all EBAY Giraffes going?


Did Paul Volker cheerlead the Speculators like this? No.


And then Abby "Planet of the Apes" Joseph Cohen was dragged out for her usual pie in the sky forecast.


And CNBS had one Shill after another on the tube hyping up the stock market. Must have been at least 10 in a row.




Now all eyes are on the Amazing AMZN for their Yearnings Enema. EBAY's market cap increased by $5 billion today alone. AMZN should be able to accomplish the same.

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AMZN, BRCM both down hard at least now

I was short BRCM at $40 and covered it today.


Didn' like to see the huge volume surge come in.


We'll see how it plays out later.

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Any word from MSFT ?

Microsoft Reports Strong Third Quarter Revenue

Thursday April 22, 4:15 pm ET

Broad-based Demand Drives 17% Revenue Growth



REDMOND, Wash., April 22 /PRNewswire-FirstCall/ -- Microsoft Corp. (Nasdaq: MSFT - News) today announced revenue of $9.18 billion for the quarter ended March 31, 2004, a 17% increase over $7.84 billion in the prior year. Operating income for the third quarter was $1.28 billion, compared to $2.74 billion in the prior year. Net income and diluted earnings per share for the third quarter were $1.32 billion and $0.12 per share. These results include stock- based compensation expense of $748 million (pre-tax) equating to $501 million (after-tax) or $0.05 per share, and legal charges of $2.53 billion (pre-tax) equating to $1.89 billion (after-tax) or $0.17 per share related to the settlement of the Sun Microsystems Inc. litigation and a fine imposed by the European Commission. For the previous year, net income and earnings per share for the third quarter were $2.14 billion and $0.20 per share, including stock- based compensation expense of $978 million (pre-tax) equating to $655 million (after-tax) or $0.06 per share.



26.70 AH (up 75 cents) currently.

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Vix collapsed below 14 at one point today...


Amazing how implied vol has come down so fast in the last month... we are at or near new lows for this puppy.... I think we get maybe one more day of up action at best, then another leg down in this extended roll-over trading-range top.


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